All Articles Tagged - GBPUSD

Forex Market Review (Asian Session) – Dollar struggles as Mueller subpoenas Trump’s campaign; safe havens jump on risk aversion

Posted on November 17, 2017 at 8:44 am GMT

The dollar opened weaker on Friday in Asia on news that several officials from Trump’s campaign were subpoenaed for Russia-linked documents despite markets relief on the US tax story after lawmakers approved the tax plan in the House of Representatives. Consequently, investors turned risk-averse during the session, pushing the safe-haven assets higher. According to the Wall Street Journal on Thursday, the Special Counsel, Robert Mueller, who has been appointed to investigate possible Russian meddling in Trump’s 2016 campaign, issued subpoenas to more than a dozen [..]

Forex Market Review (European Session) – Dollar flat as US House puts tax plan to vote; pound steady after retail sales surprise

Posted on November 16, 2017 at 4:23 pm GMT

Major currencies were moving sideways during the European session on Thursday as investors were widely anticipating whether Republicans would pass their tax code in the House of Representatives later today. Economic releases out of the Eurozone, the US, the UK, and Canada were also in focus but had a moderate impact on the markets. The US lawmakers were preparing for a crucial vote on tax reforms in the House of Representatives on Thursday after 1830GMT, with Republicans feeling confident that [..]

Forex Market Review (Asian Session) – Dollar stuck in a tax trap; aussie gains little on employment data

Posted on November 16, 2017 at 8:44 am GMT

Weakened prospects on the US tax reforms continued restricting the dollar’s gains in Asia despite Wednesday’s encouraging data cementing a third-rate hike this year, while a mixed employment report in Australia did little to support the aussie. On Wednesday, two Senate Republicans expressed their opposition to the tax plan, claiming that they would not support a plan which favours corporations over other enterprises including small companies. Particularly the new version produced on Tuesday aims to activate permanent tax cuts for corporations and only temporary tax cuts [..]

Forex Market Review (European Session) – Dollar and stocks falter; euro and yen shine

Posted on November 15, 2017 at 3:48 pm GMT

Markets remained in risk-off mode in European trading on Wednesday, with risk assets coming under pressure while safe-havens flourished. The US dollar extended its losses against the yen despite another batch of solid data out of the United States today. The euro rallied to a one-month high against the greenback, but the pound remained range-bound. The yen was the day’s strongest currency, though its driver was not the upbeat third quarter GDP figures released in Japan earlier in the day [..]

October’s UK retail sales could feed pound bears – Forex News Preview

Posted on November 15, 2017 at 12:27 pm GMT

Inflation readings on Tuesday suggested that British pockets will remain squeezed ahead of the Christmas shopping season, as consumer prices continued growing steadily by 3.0% in October, potentially flagging another disappointing month for retailers. With Brexit negotiations trapped in a deadlock and British real wage growth showing no signs of a significant rise, annual retail sales in October are expected to post a negative performance on Thursday, reducing the odds of another interest rate hike this year and therefore deteriorating the outlook for the British [..]

Forex Market Review (Asian Session) – Dollar struggles ahead of inflation figures; aussie takes a knock after wage data

Posted on November 15, 2017 at 8:42 am GMT

On Wednesday, the dollar performed poorly relative to its major counterparts in Asia, failing to recover on the back of a stronger euro and on continued concerns on the future of the US tax overhaul. Its Australian peer, however, was the worst performer during the session, as wage growth readings out of the country missed expectations. The dollar index, which gauges the dollar’s strength against six major currencies hovered around a three-week low of 93.56 (-0.25%) after stronger-than-expected GDP growth readings released [..]

Forex Market Review (European Session) – Euro jumps to 3-week high on upbeat GDP; pound slips on inflation miss

Posted on November 14, 2017 at 3:40 pm GMT

The euro enjoyed its strongest daily gain in a month as upbeat GDP numbers out of Europe lifted sentiment for the region. The pound came under pressure though after UK inflation missed expectations, while the US dollar remained below session highs despite US producer prices rising more than anticipated. Stronger-than-expected growth in Europe’s largest economy during the third quarter set the tone for today’s European session as investors were once again drawn to the improving outlook for the region. German [..]

Technical Analysis – GBPUSD is neutral in the short-term with key support at 1.3000

Posted on November 14, 2017 at 7:19 am GMT

GBPUSD is neutral in the short-term and trading in a range between 1.3026 and 1.3337 following a decline from 1.3656. The RSI and MACD are neutral as momentum has weakened, suggesting the consolidation phase is expected to continue in the near term. Risk is tilted to the downside as gains have stalled in the past few days below the 50% Fibonacci retracement level (1.3215) of the latest rally from 1.2773 to 1.3656. The market is also trading below the 50-day [..]

UK inflation spike could put Carney’s hand on paper and push pound higher – Forex News Preview

Posted on November 13, 2017 at 4:07 pm GMT

Following encouraging evidence on Britain’s industrial output on Friday, the upcoming data on consumer prices on Tuesday are expected to show that British inflation continues to grow above the BOE’s target and likely pushing the pound higher. However, inflation drivers are not demand-led but a result of exchange rate weakness, challenging the BOE Governor, Mark Carney, who will be forced to write a letter to the chancellor, Philip Hammond, in case readings appear higher than the upper band of 3.0%, [..]

Forex Market Review (European Session) – Sterling performs worst among majors on added cloud of uncertainty; dollar higher

Posted on November 13, 2017 at 3:37 pm GMT

In the absence of major economic releases during today’s European session trading, forex markets were focused on upcoming data, a central banking conference set to take place tomorrow and developments on the political front, in particular Brexit and the US tax reform. Sterling was the worst performing major currency. The dollar’s index against a basket of currencies was 0.1% higher at 1520 GMT. On Friday, it hit 94.26, its lowest since October 26 as developments on the US tax front [..]

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